The CEO Of Sears Says The Nearly Bankrupt Company Doesn’t Need More Customers

by MR Magazine Staff

It’s understandable that Eddie Lampert, the CEO of Sears Holdings, is feeling the pressure. After all, his company is in a prolonged death spiral, and he’s now addressing speculation the 124-year-old retailer may be forced to declare bankruptcy. Yet none of that would explain his comments at yesterday’s shareholders meeting, when Lampert said, “We don’t need more customers. We have all the customers we could possibly want.” As a rule of thumb, businesses generally want as many customers as they can get. It’s just possible to imagine an enterprise that doesn’t need more business—perhaps the maker of luxury sports cars that builds just a handful a year— but it’s safe to say a mass-market retailer like Sears, which also owns discounter Kmart, isn’t in that category. Read more at Quartz.